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Financial sustainability


Our rules and structures underpin UEFA's commitment to safeguard the financial stability of European football.


The development and application of UEFA's financial sustainability system is one of our most ambitious projects, and reflects widespread consultation with the European football community's leading stakeholders.

Implemented through our club monitoring process, the regulations set a framework for participation in UEFA men's club competitions and are built on three pillars:

  • solvency
  • stability
  • cost control

Each is tracked throughout the season to ensure that clubs are financially sustainable and keep their costs under control.

“As European football's governing body, it is our duty to ensure financial stability. Our new rules have received unanimous support from across the European football community.”

Andrea Traverso, UEFA financial sustainability and research director

Evolution of financial fair play

The regulations are an evolution of financial fair play, which contributed to a marked improvement in club finances after its introduction in 2010. In 2009, net losses across Europe's top-division clubs stood at €1.6 billion; by 2018, that had been transformed to a profit of €140 million, with overdue payables virtually wiped out.

However, the financial hit of COVID-19 lockdowns caused unprecedented losses for European clubs. The reduction of operating revenues, inflexible wage costs and a collapse of player transfer profits resulted in cumulative losses of €7 billion among top-division clubs.

Such exceptional circumstances demanded a shift in our approach. The new UEFA Club Licensing and Financial Sustainability Regulations, approved by our Executive Committee in June 2023, represent our response to the challenges facing the European game.

Financial sustainability regulations

Our new financial sustainability rules are based on consultation with all of the game's key stakeholders: our 55 member associations, the European Club Association (ECA), the European Leagues, FIFPRO, supporters groups, the European Commission, the European Parliament and the Council of Europe. The process brought a single-minded focus to our goals:

  • Improve the economic and financial sustainability of clubs, increasing their transparency and credibility;
  • Place the necessary importance on the protection of creditors;
  • Promote better cost control;
  • Encourage clubs to operate on the basis of their own revenues;
  • Encourage responsible spending for the long-term benefit of football;
  • Protect the long-term viability and sustainability of European club football.


The no overdue payments rule strengthens guarantees to creditors, improves solvency and protects the integrity of our competitions. Under our new system, there are quarterly controls on payables to other football clubs, employees, UEFA and social/tax authorities.


Our new football earnings rule – an evolution of the existing break-even requirement – refers to the difference between relevant income and relevant expenses. To comply with the rule for the monitoring period, a club can have a surplus or a deficit but must demonstrate:

  • an aggregate football earnings surplus; or
  • an aggregate football earnings deficit that is within the acceptable deviation.

The calculation is conducted over three monitoring periods. Requirements for equity contributions have been tightened under the new regulations to prevent additional debt.

Cost control

For the first time, clubs are subject to a squad cost rule to apply better control over player wages and transfer costs.

The new rule limits spending on player and coach wages, transfers and agent fees to 70% of club revenue. We will roll out the new threshold progressively: 90% in the 2023/24 season and 80% in 2024/25, before applying the permanent 70% ceiling from 2025/26. Breaches will result in predefined financial penalties as well as sporting measures.

Financial sustainability and club licensing

Our financial sustainability rules complement our club licensing system, which ensures that clubs fulfil minimum criteria for admission to our men's and women's club competitions. These cover sporting requirements, football social responsibility, infrastructure, personnel and administrative, legal and financial matters. In addition, clubs applying for licences to compete in our men's competitions are obliged to contribute to the professionalisation of the women’s game.

Clubs are assessed once a season by the national licensors. If they meet the requirements, a UEFA licence is granted for the following season.

Club Financial Control Body

UEFA's Club Financial Control Body (CFCB) oversees application of our financial sustainability regulations. As an Organ for the Administration of Justice, it conducts regular monitoring and imposes disciplinary measures in the event of non-fulfilment of any requirements.

The CFCB determines whether licensors (national associations or their affiliated league) and licence applicants/licensees (clubs) have fulfilled the criteria or the financial sustainability requirements, as well as deciding on cases relating to club eligibility for the UEFA club competitions.

The body is composed of a First Chamber and an Appeals Chamber, both headed by a chair and independent from each other. In June 2023, our Executive Committee elected the CFCB members for the period from 1 July 2023 to 30 June 2027. Its final decisions may only be appealed against before the Court of Arbitration for Sport (CAS) in Lausanne, Switzerland.

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